Paint Additives Market | Scope of Current and Future Industry
The global market for paint additives is highly fragmented, with presence of several regional and international players. A number of domestic vendors have been observed to enter the market, influenced by rapid growth in urbanisation and industrialization in emerging economies. These vendors are competing on the basis of innovation, product quality, price, operation cost, and economies of scale for strengthening their position in the market. A latest research by Future Market Insights (FMI) projects the global market for paint additives to exhibit a moderate 4.8% CAGR during the forecast period 2017 to 2022. Revenues from the global paint additives market will reach nearly US$ 9,000 Mn by 2022-end.
Vendors of Paint Additives are Focusing on Product
Differentiation & Innovation to Maintain their Market Presence
Huge investments are being made by vendors of insulating
paint additives in research & development activities, with an aim of
reducing the cost associated with manufacturing and operation. Vendors are also
concentrating on product extensions and new technologies, to develop highly
efficient products with enhanced properties. Innovation and product
differentiation are primarily adopted strategies by vendors in the market to
maintain their presence in the market. These factors might influence expansion
of paint additives market across the globe. In addition, rapid economic
expansion in developing countries has led toward a rise in industrial
activities and architectural construction. This has further fuelled adoption of
paints, thereby creating huge demand for paint additives.
Although environmental regulations have kept expansion of
the paint industry in check, manufacturers of paints are endlessly stressing on
reformulating their products, which in turn is driving demand for novel
additives. Surging demand for multifunctional additives is another major factor
favouring growth of the global paint additives market. Utilised in paint
formulations, multifunctional additives offer performance level similar to that
of individual additives. Multifunctional additives reduce the cost, and
simplify the formulating process, and help aqueous solutions to perform well
and remain compliant with safety standards.
Architectural Sector to Remain Dominant End-users of
Paint Additives
Architectural sector is the major end-user of paint
additives and will continue to dominate the market, in terms of revenues.
Rising construction of residential and commercial buildings, especially in
emerging regions, will drive demand for paint additives, as they improve
corrosion resistance, abrasion resistance, thermal stability, and water
resistance. Growing urbanization, improving living standards of population
worldwide, and growth in construction activities are factors fuelling adoption
of paint additive in the architectural end-use industry.
Sales of paint additives will witness the fastest expansion
in anti-foaming, and biocides impact modification applications. In addition, sales
of paint additives for application in wetting & dispersion, and rheology
modification are expected to register a parallel expansion through 2022.
Wetting & dispersion is expected to remain the least lucrative application
of paint additives over the forecast period.
Read Full Report@ https://www.futuremarketinsights.com/reports/paint-additives-market
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